If you’ve been hearing about crypto and DeFi (Decentralised Finance) but feel like it’s all too complicated, you’re not alone. Most of us Aussies just want to know: how can I make my money work harder while still enjoying my morning flat white?
One project making waves is DAO1’s Chain TradeBot. It’s designed to help everyday people start earning passive income without needing to stare at charts all day. Let’s break it down in plain English.
What’s the Chain TradeBot?
At its core, the Chain TradeBot is like an automated trading assistant that lives on the blockchain. Instead of you buying and selling crypto yourself, the bot does it on your behalf, following pre-set strategies.
Think of it like putting your money into a well-trained fishing crew: you don’t have to drive the boat or throw the nets; they do all the hard work while you enjoy the catch later.
The best bit? Because it’s built on the DAO1 DeFi platform, the bot runs on a transparent blockchain system, so the rules are coded and visible for everyone. That means no sneaky banker fees or middlemen taking a cut behind the scenes.
How Does It Actually Work?
- You deposit funds: You add your crypto (or sometimes stablecoins tied to the Aussie dollar or USD) into the Chain TradeBot smart contract.
- The bot trades for you: It scans the market and makes trades based on data and trends, aiming to grow your holdings over time.
- You earn passive income: Any profits are automatically added back to your account. You can pull your funds out when you need them, depending on the platform’s rules.
The tech sounds fancy, but the idea is simple: you’re letting an automated system do the heavy lifting while you get on with life.
Why Should Aussies Care? Diversify & Earn While You Sleep
Here in Australia, we know the importance of a good side hustle. The cost of living isn’t getting any cheaper, and having all your money in one place (like just the bank or just property) can be risky.
Crypto and DeFi offer another way to diversify. Instead of all your wealth sitting in a low-interest savings account, you can put a portion into platforms like DAO1 to potentially earn better returns.
Passive income means you’re not trading time for money. Your money is out there working for you, even while you’re at the footy or enjoying a barbie with mates.
Passive Income – The Aussie Approach
You don’t need to be a tech whiz to get involved with DeFi. Start small, learn as you go, and always keep a balanced portfolio. Chain TradeBot is one example of how automation and blockchain can give everyday Aussies a shot at building a passive income stream without being glued to screens all day.
If you’ve ever thought, “There must be a better way to make my money work,” this could be worth a look. Diversify, stay smart, and let technology help you along the way.
But Is It Safe?
No investment is completely risk-free, and crypto is more volatile than traditional markets. That’s why it’s important to only invest what you can afford to put aside and to do your own research.
If you would like to learn more about smart contracts, click here and read our detailed explanation with real-world examples and use cases.
This is not financial advice, do your own research
Firstly, for those who don’t know me, I’m Scott, the driving force behind DeFi Life, where we’re revolutionising how Australians approach decentralized finance (DeFi) and the Education around it.
